Air Canada (TSE:AC) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

Air Canada (TSE:AC) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$25.78 and traded as high as C$28.18. Air Canada shares last traded at C$27.64, with a volume of 1,391,499 shares.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group upped their price target on Air Canada from C$20.00 to C$26.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Canadian Imperial Bank of Commerce raised their price target on Air Canada from C$26.00 to C$40.00 in a report on Friday, August 14th. Scotiabank upgraded shares of Air Canada from a “hold” rating to a “sector outperform” rating and lifted their target price for the company from C$26.00 to C$33.50 in a research report on Tuesday, August 11th. Stifel Nicolaus lifted their price objective on shares of Air Canada from C$30.00 to C$38.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Finally, BMO Capital Markets upped their price objective on Air Canada from C$30.00 to C$37.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$32.29.

Air Canada Stock Down 1.5%

The company has a market capitalization of C$7.74 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 0.02 and a beta of 2.02. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 478.10. The stock’s fifty day moving average is C$25.78 and its 200 day moving average is C$21.73.

Air Canada (TSE:AC) last posted its earnings results on Tuesday, August 11th. The company reported C$0.40 earnings per share (EPS) for the quarter. Air Canada had a return on equity of 16.92% and a net margin of 1.82%.The company had revenue of C$6.27 billion for the quarter. Research analysts predict that Air Canada will post 2.5789474 EPS for the current fiscal year.

Air Canada Company Profile

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.